President Bola Ahmed Tinubu has signed the newly approved N70,000 National Minimum wage into law.
The President assented to the bill on Monday during the Federal Executive Council meeting attended by the members of the Cabinet and the leadership of the National Assembly.
The Council suspended the meeting to allow the leadership of the National Assembly, led by Senate President Godswill Akpabio, to witness the signing of the bill.
Last Tuesday, the Senate and the House of Representatives had passed the new minimum wage bill.
The bill passed first (President Bola Tinubu’s request), second (debate on general principles), and third readings — all within an hour in the upper and lower legislative chambers.
The legislation increased the country’s minimum wage from N30,000 to N70,000.
The law also provides for a review of the minimum wage every three years.
The last minimum wage of N30,000 was signed by former President Muhammadu Buhari in 2019.
President of the Nigeria Labour Congress (NLC), Mr. Joe Ajaero, recently disclosed details of the discussions between organized labour and President Bola Tinubu that led to the acceptance of a N70,000 minimum wage during the national wage negotiations at the Presidential Villa in Abuja. Speaking during an interview, Ajaero explained…
President Bola Tinubu has promised to review the minimum wage to align with the current economic realities of the country. According to him, the federal and state governments need to take a look at the minimum wage together and also strengthen the source and application of the country’s revenue. He…
The Organised Labour is scheduled to reconvene discussions with President Bola Ahmed Tinubu in another seven days, marking a significant step in finding common ground on ongoing deliberations about a new National Minimum Wage for workers in Nigeria. The President of the Nigerian Labour Congress, Joe Ajaero and the Leader…
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